Ageless Solutions Ltd - Accounts to registrar (filleted) - small 17.3

REGISTERED NUMBER: 08403996 (England and Wales)

Unaudited Financial Statements for the Year Ended 28 February 2017

for

Ageless Solutions Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

to

4

DIRECTOR:

C Chapman

SECRETARY:

REGISTERED OFFICE:

Third Floor

Scottish Mutual House

27-29 North Street

Romford

Essex

RM11 1RS

REGISTERED NUMBER:

08403996 (England and Wales)

ACCOUNTANTS:

Havard & Associates

Third Floor, Scottish Mutual House

27-29 North Street

Hornchurch

Essex

RM11 1RS

FIXED ASSETS

Tangible assets

4

7,188

9,065

CURRENT ASSETS

Stocks

500

500

Debtors

5

42,175

27,391

Cash at bank

4,641

1,149

47,316

29,040

CREDITORS

Amounts falling due within one year

6

41,586

36,067

NET CURRENT ASSETS/(LIABILITIES)

5,730

(7,027

)

TOTAL ASSETS LESS CURRENT LIABILITIES

12,918

2,038

PROVISIONS FOR LIABILITIES

1,438

1,813

NET ASSETS

11,480

225

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

11,479

224

SHAREHOLDERS' FUNDS

11,480

225

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2017 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 21 November 2017 and were signed by:

C Chapman - Director

1.	STATUTORY INFORMATION

Ageless Solutions Ltd is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

33% on cost and 20% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from

those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that

have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the

timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they

will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 29 February 2016

12,484

Additions

872

At 28 February 2017

13,356

DEPRECIATION

At 29 February 2016

3,419

Charge for year

2,749

At 28 February 2017

6,168

NET BOOK VALUE

At 28 February 2017

7,188

At 28 February 2016

9,065

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.17

28.2.16

£

£

Other debtors

42,175

27,391

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.17

28.2.16

£

£

Trade creditors

7,354

14,369

Taxation and social security

21,035

10,564

Other creditors

13,197

11,134

41,586

36,067

7.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The company loaned the director a total of £27,391 during the previous financial year. This was repaid in full

during the current financial year. However, further loans were made to the director totalling £ 42,175 and these

remained unpaid at the year end, 28 February 2017. The loans were unsecured and interest charged accordingly

at 3.00% per annum pro rata.

8.	FIRST YEAR ADOPTION

Ageless Solutions Ltd prepares its first financial statements that comply with FRS 102 for the year ended 28

February 2017. Ageless Solutions Ltd date of transition to FRS 102 is 1 March 2015. For Ageless Solutions Ltd

the transition to FRS 102 has resulted in only a journal regarding deferred taxation as at 28 February 2016.

The depreciation rate for computer equipment has also been updated to a more appropriate rate and is now

33.33% SL from the previous rate of 20% RV.